INVESTIGATIONS have shown that debt service, poor revenue outcomes and lax budget implementation are going to be a drag to the realisation of the 2022 budget. “The budget has not gone out of the vicious circle of crude oil being the main source of revenue for this country. Nigeria is the second-lowest country in terms of per capita budget, meaning the federal budget is divided by the population, will amount to little. Although the Federal Government had projected revenue of N5.84 trillion for 2020, actual revenue was N3.25 trillion. Teriba said if the main share of government’s revenue goes to servicing debt, then the nation would fall into a debt trap.

Source: Nigerian Tribune October 11, 2021 06:56 UTC